Macroeconomics: Definition, concepts and examples

Macroeconomics is the study of the total or aggregate level of output, income, employment, consumption, investment and prices for the economy viewed as a whole.

Macroeconomics is a branch of economics that studies how the economy behaves as a whole, in totality. As compared to microeconomics which is concerned with individual economic units such as a family, a firm or an industry,

Macroeconomics is concerned with the while economic system, such as National income. Various other factors such as national income, total savings and investment, total demand and supply, inflation, general price levels, rate of growth, gross domestic product (GDP), total unemployment are studied.

Academic Essays, Questions, Projects on Macro Economics

Management / MBA question on Macroeconomics

Q. Choose one key practical macroeconomic concept from what this class intends to cover and provide a critical overview of its value in explaining, or solving, one or more real world macroeconomic problems or challenges. Examples of topics that may be used appear below.

Your work has to be in essay format but may benefit from inclusion of tables, diagrams, etc., and most probably will need a bibliography, depending on what you choose to work on. If a bibliography is required please be sure to present this in Harvard style (here is an example: http://libweb.anglia.ac.uk/referencing/harvard.htm)

Examples of topics/areas to focus on:

1. How would you explain the stability seen in UK interest rates over the past 8-10 years and how are they likely to change in the UK in the event of a ‘no-deal Brexit’?
2. Offering examples as well, explain why central bank independence is important.
3. In recent months UK unemployment date has looked very healthy. How would you explain this outcome?
4. Would we be correct in describing President Trump’s internal economic policies as Keynesian?
5. In mid-July this year (2019) the Office for Budget Responsibility (O8R) released a report suggesting that a no-deal Brexit would further reduce prospects for economic growth and add to national borrowing figures. Explain what you believe to be the main assumptions underpinning these predictions.

What do you need to read to prepare for this task? Other than the assigned textbook, please do remain aware of current and recent macroeconomic news via resources such as the BBC, CNN, SKY News, quality newspapers, such as the FT, etc. Please do consider signing up for news-rich Twitter feeds from the ONS and others.

Q. Using straightforward economic analysis (demand, supply, scarcity of resources, etc.) explain why an economy engaged with international trade is likely to develop and grow more than one that avoids international trade. (1750 words)

Choose 1 key theoretical concept, with a strong macroeconomics focus, from what has been discussed in class and provide a critical overview of its value in explaining, or solving, one or more real world macroeconomic problems or challenges. Examples of topics that may be used are mentioned below. Your work should be presented in essay format but may benefit from inclusion of tables, diagrams, etc., and may need a bibliography, depending on what you choose to work on.

Examples of topics! areas to focus on:
1. Given the difficulty in fitting the PPF framework to an actual real economy, explain why economists still use it as part of their explanations of how economies allocate resources}
Z. The UK economy was caught in the grips of a rampant speculative property market for much of the 1980s and again in the early part of the 2000s. Provide an assessment of how speculative asset bubbles influence consumer
spending decisions.
3. Using straightforward economic analysis (demand, supply, scarcity of resources, etc) explain why an economy engaged with international trade is likely to develop and grow more than one that avoids international trade.

Other than the assigned textbook, please do remain aware of current and recent macroeconomic news via resources
such as the leading news channels and newspapers, etc.

Question: Is it true to believe that the importance of fiscal policy as a tool in stabilizing the economy is declining and that of monetary policy is rising because the recent debt problem had to do more with financial aspects? Justify your statement with practical support with regard to PIIGS economies.

Question: How far do you think that 51% FDI in multi brand retail decision in India is taken because of foreign pressure? If no then why there is so much of confrontation of views amongst the experts and if yes then why has this situation of foreign pressure taken place? Why do you think that single brand retail has not picked up in spite of allowing 100% FDI in India? Explain.

Question: Why Hecksher-Ohlin theory of International Trade was developed when we already had Adam Smith’s and David Ricardo’s theory? Explain. What role do you think currency fluctuations play in international trade? Explain with reference to fixed, managed and freely floating exchange rate regime. Analyze.

Question: Double counting makes our National Income much bigger than actual whereas if we talk of prevalence of non monetized sector in our economy then our National Income figure becomes smaller than actual. Which method you think is best and why? What is your view regarding HDI? Explain.

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